Finlay tranche A revolver priced at Libor plus 200 bps, tranche B revolver at Libor plus 450 bps

By Sara Rosenberg

New York, Nov. 13 - Finlay Enterprises, Inc.'s $512.5 million tranche A revolver is initially priced at Libor plus 200 basis points and its $37.5 million tranche B revolver is priced at Libor plus 450 bps, according to an 8-K filed with the Securities and Exchange Commission Tuesday.

Pricing on the tranche A revolver will change after Jan. 1, 2009 in accordance with a graduated pricing matrix based on average excess availability.

GE Capital Markets and JPMorgan acted as joint lead arrangers on the $550 million five-year deal, with GE the bookrunner and Wachovia acted as documentation agent.

Proceeds were used to refinance existing bank debt and to help fund the acquisition of Zale Corp.'s Bailey Banks & Biddle division.

Finlay is a New York-based retailer of fine jewelry and an operator of licensed jewelry departments in department stores.

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